God of Corporate Hunting - Chapter 241



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◈ Episode 241: The North Star’s Counterattack (2)

This is the current hidden attack of Hyeonseop.

Since money couldn’t solve the problem, they brought in outside forces.

Although political interference has decreased compared to the past, the financial sector is still not free.

In particular, Korea Investment & Securities cannot ignore the situation because its roots lie in Korea Bank, of which the government is the largest shareholder.

Although Korea Asset Management is not affiliated with the government, it is seen from the outside as belonging to Korea Investment & Finance Group. The government probably holds a similar view.

“Is this the government’s will?”

Yoon Se-bin asked.

Her voice was hard, and seemed slightly angry.

Financial Supervisory Service Governor Kwon Dong-gil nodded reluctantly.

“That’s right. If you really want a short answer.”

“Which line is it?”

“The Prime Minister is certain… but I’m not sure about the people above him.”

Yoon Se-bin frowned.

Up until now, the government has never helped us while we have grown to this extent, but it has also never directly interfered. Now that we have grown enough for the government to care, we should happily accept it.

When Yun Se-bin was lost in thought, Nam Woon-myung stepped forward.

“Can I just hand over Bukseong Distribution?”

“That’s all we need now.”

“It’s not difficult for us since we only have to look at the return on investment anyway.”

Yoon Se-bin and Park Won-tae were surprised by Nam Woon-myung’s readily agreeable answer.

Kwon Dong-gil smiled.

“As expected of a young person, he is good at communicating.”

“But how do I hand it over? The major shareholders of Bukseong Distribution are Bukseong Life Insurance, Bukseong Securities, Korea Asset Management, Mega Asset Management, and CSK, all of which are involved.”

Kwon Dong-gil hesitated over a surprisingly complex problem.

“Should we sell our stake in Bukseong Securities on the market? The government and Bukseong Group were the ones who pressured us to acquire Bukseong Securities in the first place? If we reverse course now, we will have no choice but to sell our stake in Bukseong Securities. Furthermore, if we sell all of the stakes held by Mega Asset Management and Korea Asset Management on the market at once, the stock price will plummet. Will we be able to withstand the resentment of general investors?”

“That, that… hand it over to the Buksung Group in Block Deal.”

“Recently, as Bukseong Distribution has been receiving attention, its stock price has risen considerably, although not by a large amount. Can Bukseong Group receive it at the current price? If it had that much money, it wouldn’t have been pushed out at the general shareholders’ meeting.”

Anyone can see that the Bukseong Group, whether the owner or an affiliate, has no ability to raise cash right away.

Even Dong-gil Kwon, who had made the offer, frowned when he realized the situation.

Currently, even the stocks that Seop currently owns are being used as collateral to pay inheritance tax. Other affiliates are also struggling with a lack of cash flow.

In such a situation, it is impossible to acquire Bukseong Distribution stocks at a higher price than before.

“We want to give it up too, but…….”

Nam Woon-myung chuckled.

Even if the government insists on forcibly handing it over, there are other ways.

The reason why Hyun-Seop is currently going crazy is because of the shares of Bukseong Construction that Bukseong Oil has entrusted to him. Since Bukseong Oil owns the rights to these shares, Mega Asset Management, which currently owns Bukseong Oil, can dispose of them.

In other words, after disposing of this stake to Megana Asset Management, it can be transferred to Bukseong Distribution.

Since he has never touched the assets of Bukseong Distribution, Hyunjae Seop cannot raise an objection. He is only getting the shell back.

Kwon Dong-gil sighed and comforted them.

“Anyway, it’s best not to touch the North Star. The connections they’ve made in the political and financial world are enormous. Right now, they’re sending me to coordinate things in a gentlemanly manner, but next time, they might use physical force, including the prosecution. You know it’s not a question of right or wrong, right? If they keep filing lawsuits and harassing me, it’ll be hard to handle.”

Although he kept calling it a threat, Nam Woon-myung didn’t even blink an eyebrow.

In other places, I might compromise to some extent, but not in Bukseong. Especially if you put pressure on me in this petty way.

“Director, isn’t there something called a management premium?”

“yes.”

“We also have no intention of taking over other people’s businesses unconditionally. If Bukseong wants it, we can hand it over. However, it would be a fair deal if we added a premium to the current price, right?”

“Yeah, that’s right.”

“Please tell them that I can sell all of them as a block deal by adding 50% to the current price. Not less than that.”

In fact, it is a deal that is difficult for the North Star to handle.

Kwon Dong-gil stood up with a disappointed expression on his face, his determination unwavering.

“I’ll try to talk about it… but it won’t be easy. I’m not on either side. I’m just relaying the higher-ups’ wishes. I hope you guys won’t be hostile to the government either.”

Kwon Dong-gil’s shoulders slumped as he returned.

* * *

“These guys!”

Hyun-Seop Hyeon read the report brought by Chief Kim Hak-Yong and then threw it away.

The report flew so hard that it seemed as if it had been thrown by a pitcher and hit Kim Hak-yong in the face.

Of course, Kim Hak-yong couldn’t get angry and just quietly picked up the report.

I had a feeling this would happen.

“Please fix it. It’s bad for your health.”

“Who do these guys think they are in hot pants? Money is everything.”

It is truly astonishing that it was only recently that Hyun-Seop was threatening small businesses by saying that money was everything.

The report stated that Korea Asset Management and Mega Asset Management were willing to sell their stakes in Bukseong Distribution at a 50% premium to the current price.

Of course, these were transaction terms that Hyunseop could not accept.

Since Bukseong Distribution is one of many affiliated companies, there is no reason to go out of your way to visit. It is just a matter of pride.

“It seems they have sensed our weakness.”

“What weakness?”

Hyunjae Seop glared, his anger growing.

You have to speak well if you don’t want to get hit again.

“Bukseong Oil Holdings has a large stake in Bukseong Construction.”

“It’s not Bukseong Distribution, is it?”

“The current largest shareholder of Bukseong Oil is Bukseong Distribution.”

“Ugh!”

When I threatened with North Star AF Tech, he counterattacked with Tesla. When I sent the Financial Supervisory Service Chairman, he came out with a high-handed attitude. Who is the Financial Supervisory Service Chairman? Isn’t he in charge of all financial companies in Korea? Korea Asset Management and Mega Asset Management are also financial companies in Korea, so what kind of guts do they have?

“Why are those guys trusting CSK so much and being so picky?”

I realized that there was a limit to the pressure from the Financial Supervisory Service. CSK was not a domestic bank.

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An idea suddenly occurred to Hyunjae Seop as he was racking his brain.

“Do you know the contact information of Yoon Se-hyeok, the former president of Korea Investment & Securities?”

“Of course I know.”

“Tell them to come in.”

The enemies took advantage of the internal discord within the Bukseong Group. Since ancient times, internal rifts have been the most fearsome.

What about Korea Investment & Securities Group?

If we are talking about the personality of Yoon Se-hyuk, Yoon Se-bin’s older brother…

There is no one in the financial world who does not know that it is a dog food chain.

* * *

There has been a big change in Edustudy.

Kim Ji-young, the face of EduStudy, refused to renew her contract and transferred to Study King, where she had previously worked. The amount of the contract fee is unknown, but many people said that it was a golden return, as her value was clearly several times higher than in the past.

On the other hand, EduStudy, which lost Kim Ji-young, was evaluated poorly. There were two opinions: one was that EduStudy offered a much lower contract renewal amount than expected, and the other was that they failed to win Kim Ji-young’s heart despite offering a high amount.

Either way, there was an opinion that it was expected to be a classic for EduStudy, which lost its star instructor.

After Kim Ji-young left, EduStudy filled the vacancy with Min Eun-ha.

Since it had only been about six months since it entered the industry, it was pointed out that it was a last resort. However, contrary to expectations, Min Eun-ha did well and there was no unfortunate incident of a significant drop in sales.

Every day, Yoon Se-bin checked EduStudy’s sales trends and confirmed Nam Woon-myung’s predictions.

“I’m still holding up well, but…….”

As expected by Nam Woon-myung, Min Ha-neul’s performance was outstanding. However, rookies lack stability. They can rise significantly, but they can also fall significantly. It seemed like we still had to wait and see the situation.

“Besides, isn’t Kim Ji-young doing well too?”

Contrary to Nam Woon-myung’s expectations, Kim Ji-young returned to Study King’s home and was wielding her influence.

Sales of Korean language courses increased significantly thanks to Kim Ji-young. It was evaluated that it was worth the high price.

If it was like this, was it really necessary to replace it?

Yoon Se-bin tilted his head.

“What are you worried about? EduStudy?”

When I looked back, I saw Nam Woon-myung holding a cup of coffee and handing it to her. It seemed like he had stopped by a coffee shop on his way to work.

“thank you.”

Yoon Se-bin accepted the coffee and guided her to the sofa.

“Representative Yoon, are there any other signs from Bukseong?”

“Yes, but EduStudy…….”

“Oh! That? Did you see the news today?”

In reality, Yoon Se-bin only kept an eye on the sales trends coming up from the academy and did not keep up with the news.

Yoon Se-bin searched for Kim Ji-young.

“Star Instructor Kim Ji-young! Indicted without detention on charges of comment manipulation!”

“We mobilized an outsourcing company to flood the comments and experience reports with positive reviews!”

“Study King announces an emergency apology!”

“Did you manipulate comments during your EduStudy days?”

The news about the academy was filled with the controversy over the manipulation of comments by the college entrance exam instructor.

The private education market is monopolized by the top companies. That is why they use all sorts of tricks to become number one. Especially for online courses, students react sensitively to comments, so course reviews are very important.

Kim Ji-young took advantage of this by writing a review of her course through an outsourcing company, which was full of praise and full of criticism of the Korean language instructor at the competitor company. She used a VPN to avoid IP tracking, but was caught when the other instructor reported her.

“What happened here?”

“I told you before, that instructor is likely to cause a huge accident.”

Yoon Se-bin was shocked by Nam Woon-myung’s calm answer.

These days, I don’t doubt anything Nam Un-myeong says, but how could anyone have predicted that something like this would happen if he wasn’t a shaman?

“Will the sparks fly to Edustudy too?”

“This isn’t the first time this has happened at Study King, right? I’m sure they did the same thing at EduStudy. So EduStudy is of course responsible, but Study King won’t be affected.”

When I think about what would have happened if I had stayed at Edustudy and this problem had arisen, my mind races.

“Phew, that’s a relief.”

“Yes. Because EduStudy will be filled with great teacher Min Ha-neul.”

Yoon Se-bin sighed as she watched Nam Woon-myung sip his coffee nonchalantly.

The phone rang.

[Representative Yoon, have you seen the news article?]

It was Kim Seon-jin of Korea Investment & Securities.

Kim Seon-jin was deeply involved in the investment in Edustudy while assisting Yoon Se-bin during his PE days at Korea Bank.

“Yes, I just saw it.”

[Isn’t Teacher Kim Ji-young someone we brought in before? But when did she move back to Study King?]

“Mr. Nam Woon-myung recently refused to renew his contract.”

[Is Nam Woon Myung moving?]

Yoon Se-bin briefly explained the situation.

[As expected from Director Nam.]

“He is a wonderful person who always helps me avoid crises with his unique sense.”

Yun Se-bin answered while looking at Nam Woon-myung’s expression.

She saw his smile, the corners of his lips slightly curling. Her mood also improved.

[Oh, by the way, have you heard the news about former CEO Yoon Se-hyeok?]

“no.”

[Former CEO Yoon Se-hyeok is secretly in contact with the North.]

There are still many of Yoon Se-hyeok’s followers in Korea Investment & Securities, and Kim Seon-jin can easily use them to figure out Yoon Se-hyeok’s movements.

“Something bad is going to happen.”

[But aren’t we at war with the North these days? We have to be careful.]

“Okay, thank you.”

Yoon Se-bin hung up the phone.

The most difficult and troublesome thing is not the company problem. It is the relatives that she can’t do anything about.

If it were her step-brother, Yoon Se-hyuk, she would be gnashing her teeth at him.

She truly hoped that nothing major would happen.

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